Monetizable daily active Twitter users reached 199 million in the March quarter, lower than the 200 million forecast on Wall Street, but up seven million from the end of 2000 and significantly more than 166 million from the previous year.
Revenue of $ 1.04 billion, up 28% from $ 808 million a year earlier, was also lower than expected. Advertising revenue of $ 899 million increased 32%.
Twitter action plunged, down 11% in after-hours trading, as it forecasted a trough in new user growth in the current second quarter on tough comparisons from a fueled 2020. by a pandemic.
The social media company that permanently banned former President Donald Trump from the platform in January, reported earnings per share of 16 cents – higher than estimates.
In a letter to shareholders, the company said a pandemic-related push has attracted users and created difficult solutions that could result in low double-digit mDAU growth rates on an annual basis in Q2, Q3 and Q4 – with the low point in terms of likely growth in current Q2.
CEO Jack Dorsey also spoke about advancements in advertising, civil conversations and health. The company has started proactively applying labels to Tweets that may contain misleading information about COVID-19 vaccines. “Since the introduction of the tips, he has applied our policies to 11.5 million accounts worldwide,” he said.
Dorsey, along with her fellow social media and tech colleagues, has been a staple of Congressional hearings on the power of the internet to shape opinion, spread disinformation, and censor voices. Investors will focus more on financial metrics and forecasts ahead of a conference call scheduled for 6 p.m. ET.